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Fly News Breaks for May 1, 2017
SUN, ETE, SXL
May 1, 2017 | 07:07 EDT
As previously reported, Credit Suisse analyst John Edwards downgraded Sunoco Logistics (SXL) to Neutral from Outperform following the announced merger with Energy Transfer Equity (ETE). The analyst notes that post-merger, Sunoco Logistics becomes the largest MLP under the Energy Transfer umbrella and owns about 44% stake in Sunoco (SUN). He also lowered his price target on Sunoco Logistics' shares to $27 from $31.
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